Moore-Miller Administration Announces $4.5 Million Partnership with Neighborhood Impact Investment Fund to Support Small Businesses in Baltimore

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Official release

Source material from Maryland Governor’s Office. The wording below is the issuer’s statement.

Moore-Miller Administration Announces $4.5 Million Partnership with Neighborhood Impact Investment Fund to Support Small Businesses in Baltimore

Press Release

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November 5, 2026

Updated: November 5, 2026

ANNAPOLIS, MD – Governor Moore and the Maryland Department of Housing and Community Development (DHCD) Secretary Jake Day today announced a $4.5 million investment in the Neighborhood Impact Investment Fund (NIIF) to expand Baltimore small businesses’ access to capital and bolster the city's local economy.

The loan through the Division of Business Development’s Loan to Lender Program will be matched with $4.5 million in private capital, creating $9 million in total lending capacity. The partnership is expected to support approximately four to six loans to Baltimore-based small businesses, each ranging from $1.5 million to $2 million, for the acquisition and renovation of owner-occupied small business properties.

“Small businesses are the engine of Maryland's economy, supporting local jobs and building up our communities,” said Gov. Moore. “That’s why our administration is dedicated to fostering public-private partnerships that help us develop opportunities for our small businesses to succeed; and our investment in the Neighborhood Impact Investment Fund helps drive that goal forward, ensuring small businesses in Baltimore have every resource they need to thrive.”

“The success of Maryland's neighborhoods, communities and economy depends on our small businesses. Through our Division of Business Development, we’re ensuring they have the tools they need to grow,” said Maryland Department of Housing and Community Development Secretary Jake Day. “This investment in the Neighborhood Impact Investment Fund will expand access to flexible financing for small business owners in underserved Baltimore communities and help build more pathways to work, wages, and wealth in Maryland.”

The Department’s Loan to Lender program provides lending capital to approved lending partners, including Community Development Financial Institutions (CDFI) such as NIIF. These partners then deploy the capital through loans to eligible small businesses across the state. NIIF works in alignment with Baltimore City to deliver flexible-term loans that promote community development and catalyze inclusive economic growth. Since 2019, the Baltimore-based CDFI has closed more than 55 transactions and leveraged more than $800 million for communities.

“We are pleased to partner with Maryland’s Department of Housing and Community Development to support small businesses and nonprofits in moving from occupancy to ownership,” said Mark Kaufman, President of Neighborhood Impact Investment Fund. “This initiative aligns with our mission to deliver needed capital and support inclusive growth in Baltimore City."

In 2025, DHCD and NIIF collaborated on the inaugural loan of the Department's Own Your Future program. That transaction helped The Cube CoWork acquire a 13,000-square-foot building on Harford Road, which it had been leasing since 2021.

The Moore-Miller administration is dedicated to building up our local communities and ensuring small businesses are supported, especially in communities that have historically faced systemic barriers. Under Moore’s leadership, the Department of Housing and Community Development's Division of Business Development supports small businesses by offering loans through the Business Lending Program, grants through the NourishMD Grant Program, investment incentives through the Opportunity Zone program, and individual business consultations to identify small business assistance resources offered by the State of Maryland and its partners in local governments and in the private sector.

Learn how the Department of Housing and Community Development can help your small business by visiting our website.

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Release text attributed to Maryland Governor’s Office. Consult the official publication for any subsequent corrections or updates.